The prices of the yellow metal in Dubai jumped to a record high on July 17, 2024 evening, crossing Dh300 per gram.
As per the data of The Dubai Jewellery Group 24K was selling for Dh300.50 per gram late in the evening.
Whereas 22K, 21K and 18K were selling for Dh278.25, Dh269.25 and Dh230.75 per gram, respectively.
Spot gold internationally was trading at $2,461.9 per ounce at 8pm UAE time. Prices earlier touched $2,482 per ounce.
As per the industry experts intuitive relationship between gold and rates is that as rates move lower and yields decline on US Treasuries and other fixed-income instruments, gold becomes more attractive.
